Casablanca Finance City

4 June 2020

Financial Centre Futures @ZyenLF With Thanks To Our Sponsors © Z/Yen Group 2020 Focus On Casablanca © Z/Yen Group 2020

Mr Saïd Ibrahimi Mrs Manal Bernoussi CEO Director of Strategy, Casablanca Finance City Partnerships & Communications Professor Michael Mainelli Casablanca Finance City Executive Chairman Z/Yen Group Casablanca Finance City Your business catalyst in Africa Africa’s potential

$ 2.35 trillion $ 29 trillion Africa’s collective GDP in 2018 x12 Africa’s collective GDP Roughly equal to Brazil in 2050

Source: World Bank, 2018 Source: The Fastest Billion, Charles Robertson

Among the world’s top ten 24 Countries in Africa will fastest growing economies, grow at a CAGR* of 5% 6 are in Africa or above by 2030

Source: World Economic Forum, 2019 Source: E&Y, Africa 2030: Realizing the possibilities

$ 130-170 billion / year in financing $ 5.6 trillion in business for energy, water, ICT and opportunities in Africa transport by 2025 by 2025

Source: AFDB, 2018 Source: Mc Kinsey

600 million unique mobile Internet is expected to generate subscribers in Africa 10% of Africa's GDP by 2025

Source: GSMA, 2020 Source: McKinsey Global Institute, Lions on the move II

* Average annual growth rate Still a complex & fragmented continent

Tunisia Morocco 54 countries Algeria Libya Egypt

Mauritania Mali Niger Sudan Eritrea Senegal Chad Diverse legal & regulatory Gambia Guinea Bissau Burkina frameworks Guinea Faso Benin Sierra Nigeria South Somalia Ivory Leone Ghana Sudan Ethiopia Coast CAR Liberia Togo Cameroon Guinea Democratic Equatorial Republic Congo of the Congo Uganda Kenya Gabon Small-sized economies and Rwanda Burundi markets Tanzania

Angola Malawi Zambia Complicated environment with Zimbabwe Mozambique Namibia Botswana several challenges Madagascar (political, doing business…)

South Africa

Obvious need for entry points / financial centers to access Africa’s untapped potential and mitigate complexity & risks Morocco, a privileged entry point to Africa

Political stability

Privileged geographical Africa focused location

Morocco, the ideal investment platform for Africa

Solid economic Connectivity fundamentals

Infrastructure Casablanca Finance City Africa’s leading business and financial center, which builds on Morocco’s strategic assets to offer a privileged framework that helps catalyse your business in Africa CFC’s value proposition

1 2 3 Doing Business Community Africa Insights

4 Doing Business: streamlined processes

Fast-track administrative process

An accelerated administrative procedure for company setup formalities within 48 hours Simplified procedures for « business » visas, foreign employment contracts, and residency permits

Facilitating people flow and exchange control

 Facilities for hiring foreign employees  No exchange control on foreign currencies  Unrestricted transfer of management and technical assistance fees within the group

Casablanca International Mediation & Arbitration Center (CIMAC)  Accelerated procedure  Independent body  Experienced and world renowned members  Operating in 4 languages: English, Arabic, Spanish and French

4 CFC Community Financial institutions ● Investment banking / corporate banking ● Asset management / private equity ● Private banking ● Insurance / reinsurance ● Investment services providers

Professional services ● Specialised financial services (financial rating, research, market data provision...) ● Strategic, legal, financial and fiscal consulting services, audit, actuaries, HR services ● Financial offshoring

Holdings

Investment vehicles into African projects

Regional headquarters of multinationals

Centres de décision financiers et non financiers assurant une activité de supervision et de coordination des activités exercées par le groupe dans un ou plusieurs pays étrangers.

4 To be eligible, you must justify a regional vocation ~ 200 companies with CFC status BANKING & INSURANCE

ASSET MANAGEMENT & PRIVATE EQUITY

CONSULTING & LAW FIRMS

OTHER MULTINATIONAL CORPORATIONS

List not complete CFC Community: strong presence in Africa CFC companies are operating from Casablanca in 48 African countries

4 Africa insights

Through its ‘Africa Insights’ segment, CFC identifies the need for information and shares insights that benefit its community and helps them comprehend the diversity of Africa.

African country African data through Key contacts from African investment factsheets sectorial reports promotion agencies, opportunities to meet face-to-face

4 Tax incentives

Corporate Tax Personal Income tax

Net taxable profits from local and foreign sources: All CFC employees have the choice between:

 First 5 years : 0%  After 5 years : 15%  Option 1 : 20% Flat rate on personal income tax for employees during the first 10 years after arrival

 Option 2 : Standard taxation from the 1st year

Exemption from withholding tax on dividends distributed to residents and + non-residents Exemption from registration fees on:

 Company set-up  Capital increase CFC’s network of international partners

Luxembourg London Frankfurt Astana Paris Montreal Beijing Barcelo Busan Toronto na Abu Dhabi Casablanca Shanghai Niger Senegal Mali Burkina Guinea Faso Nigeria Ivory Coast Ghana Cameroon Togo Congo Rwanda Singapore Gabon Tanzania

Zambia Madagascar Mauritius

13 Partnerships with international finance centers

19 South-South partnerships CFC’s ambition as a green financial center for Africa

Building up a green finance International Partnerships Capacity building & Awareness 1 ecosystem 2 3 • Seminars & conferences • Setup a dedicated green • International networks for • Technical workshops finance value proposition sustainability • Working groups • Attract major players from the green & sustainable finance industry (funds, consulting firms, rating agencies…) • Massify green investment flows to Africa’s untapped opportunities

17 Some green finance initiatives

Sustainable Finance Roadmap International Cooperation In partnership with major Moroccan financial Afric 1 Platform for exchanging expertise & best sector’s stakeholders 2 practices within African financial centers a

Seminars & Working Groups 3 -Green incentives, Assessment Program Green Bonds Issuance -Regional launch of UNEP FI Positive Impact 4 355 M Dhs to finance the environmentally Principles friendly real estate program

Capacity Building Events & 5 Promotion & Awareness Conferences 6 In Morocco & internationally

18 Casablanca Finance City in numbers

1ST

Financial center in Africa (GFCI, 2020)

~200 48 CFC labelled companies African countries covered by CFC companies

1ST 13 19

Green financial center in Africa Partnerships with international South-South partnerships and the Middle East (GGFI, 2020) financial centers

4 +212 529 05 62 34 Tel : +212 5 20 30 03 80/81

www.casablancafinancecity.com

[email protected] Tour CFC, Lot 57, Quartier Casa- Allée des abricotiers, Quartier Hippodrome Anfa, Hay Hassani Casablanca – MoroccoCasablanca, Maroc – 20000

Twitter : @CasaFinanceCity

♦Consistent improvement in ratings ♦Well-connected with major centres, including Dubai, London, New York Casablanca – An External View © Z/Yen Group 2020 African Centres In The GGFI

Green Finance Depth Green Finance Quality

♦Clear leader on green finance in Africa ♦Recognised strength and commitment Casablanca Strengths © Z/Yen Group 2020 ♦Leading financial centre in Africa ♦Leadership through collaboration, e.g., active membership of the WAIFC and FC4S ♦Commitment to and leadership on green finance – high performance on energy sustainability and CO2 emissions and has a sustainable element in its stock exchange ♦Performing well internationally on country risk and inflation ♦Scores high for business process outsourcing – a trusted place to do business Casablanca For The Future © Z/Yen Group 2020

♦Potential to become the recognised gateway to Africa for international investment ♦Building collaboration, partnership and trade finance ♦Recognised centre for mediation and arbitration in Africa ♦Continued emphasis on green finance and green investment ♦Growing market for Islamic finance and Fintech Questions, Comments, And

Global Green Finance Index www.greenfinanceindex.net

Global Financial Centres Index 28 September 2020

Take the GFCI survey at: www.globalfinancialcentres.net/survey/

@ZyenLF